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Information Memorandum INFORMATION MEMORANDUM Dated: October 04, 2018 K.P. ENERGY LIMITED Our Company was incorporated as K.P. Energy Pvt. Ltd. on January 08, 2010 under the Companies Act, 1956, with the Registrar of Companies, Gujarat, Dadra and Nagar Havelli, bearing Registration Number - 059169. The status of our Company was changed to public limited company and the name of our Company was changed to K.P. Energy Limited by a special resolution passed on April 10, 2015. A fresh Certificate of Incorporation consequent upon conversion to public limited company was granted to our Company on May 11, 2015, by the Registrar of Companies, Ahmedabad. The CIN of the Company is L40100GJ2010PLC059169. For further details, please see the chapter titled “History and Certain Corporate Matters” beginning on page no. 84 of this Information Memorandum. Registered Office: A-1/2, Firdos Tower, Behind Fazal Shopping Centre, Adajan Patia, Surat - 395009, Gujarat. Tel.: +91-261-2764757; Tele-Fax: +91-261-2764757; Website: www.kpenergy.in Company Secretary and Compliance Officer: Mr. Karmit Sheth; Email: [email protected]; INFORMATION MEMORANDUM FOR MIGRATION OF 1,11,15,000 EQUITY SHARES OF M 10/- EACH FULLY PAID UP FROM SME PLATFORM OF BSE LIMITED TO MAIN BOARD OF BSE LIMITED NO EQUITY SHARES ARE PROPOSED TO BE SOLD / OFFERED PURSUANT TO THIS INFORMATION MEMORANDUM GENERAL RISKS Investment in equity and equity related securities involve a degree of risk and investors should not invest in the equity shares of K.P. Energy Limited unless they can afford to take the risk of losing their investment. Investors are advised to read the risk factors carefully before taking an investment decision in the shares of K.P. Energy Limited. For taking an investment decision investors must rely on their own examination of the Company including the risk involved. ABSOLUTE RESPONSIBILITY OF K.P. ENERGY LIMITED K.P. Energy Limited having made all reasonable inquiries, accepts responsibility for, and confirms that this Information Memorandum contains all information with regard to K.P. Energy Limited, which is material, that the information contained in the Information Memorandum is true and correct in all material aspects and is not misleading in any material respect, that the opinions and intentions expressed herein are honestly held and that there are no other facts, the omission of which make this Information Memorandum as a whole or any of such information or the expression of any such opinion or intentions misleading in any material respect. LISTING ON MAIN BOARD OF BSE The Equity Shares of K.P. Energy Limited which are listed on the SME BSE are proposed to be listed and traded on Main Board of BSE Limited. REGISTRAR TO THE ISSUE Bigshare Services Private Limited 1st Floor, Bharat Tin Works Building, Opp. Vasant Oasis, Makwana Road, Marol, Andheri (E), Mumbai – 400 059; Tel: +91 – 22 – 62638200; Fax: +91 – 22 – 62638299; Email: [email protected]; Website: www.bigshareonline.com; SEBI Registration No.: MB / INR000001385; Contact Person: Mr. Ashok Shetty. Table of Contents SECTION I – GENERAL ............................................................................................................................... 1 DEFINITIONS AND ABBREVIATIONS ..................................................................................................... 1 CERTAIN CONVENTIONS; PRESENTATION OF FINANCIAL, INDUSTRY AND MARKET DATA 5 FORWARD-LOOKING STATEMENTS ...................................................................................................... 6 SECTION II - RISK FACTORS .................................................................................................................... 7 SECTION III – INTRODUCTION .............................................................................................................. 21 SUMMERY OF INDUSTRY OVERVIEW ................................................................................................. 21 SUMMERY OF OUR BUSINESS ............................................................................................................... 23 SUMMARY OF FINANCIAL INFORMATION ........................................................................................ 31 GENERAL INFORMATION ....................................................................................................................... 41 CAPITAL STRUCTURE ............................................................................................................................. 44 SECTION IV – ABOUT THE COMPANY ................................................................................................. 48 INDUSTRY OVERVIEW ............................................................................................................................ 48 OUR BUSINESS .......................................................................................................................................... 55 KEY INDUSTRY REGULATIONS AND POLICIES ................................................................................ 72 HISTORY AND CERTAIN CORPORATE MATTERS ............................................................................. 84 OUR MANAGEMENT ................................................................................................................................ 94 OUR PROMOTER, PROMOTER GROUP AND GROUP COMPANIES ............................................... 106 OUR GROUP COMPANIES ..................................................................................................................... 110 DIVIDEND POLICY.................................................................................................................................. 121 CORPORATE GOVERANANCE REPORT ............................................................................................. 122 SECTION V – FINANCIAL INFORMATION ......................................................................................... 129 SECTION VI - LEGAL AND OTHER INFORMATION ....................................................................... 211 OUTSTANDING LITIGATIONS AND MATERIAL DEVELOPMENTS .............................................. 211 GOVERNMENT AND OTHER KEY APPROVALS ............................................................................... 220 OTHER REGULATORY AND STATUTORY DISCLOSURES ............................................................. 228 SECTION VII – MAIN PROVISIONS OF ARTICLE OF ASSOCIATION ......................................... 230 SECTION VIII – OTHER INFORMATION ............................................................................................ 243 MATERIAL CONTRACTS AND DOCUMENTS FOR INSPECTION ................................................... 243 DECLARATION ........................................................................................................................................ 244 SECTION I – GENERAL DEFINITIONS AND ABBREVIATIONS General Terms Term Description K.P. Energy Limited / Unless the context otherwise indicates or implies refers to K.P. Energy Limited a public KPEL / The Company / limited company incorporated under the provisions of the Companies Act, 1956 with its Company / We / Us / Our / registered office in the state of Gujarat. Our Company / The Issuer Company related Terms Term Description Articles / Articles of Unless the context otherwise requires, refers to the Articles of Association of K.P. Association Energy Limited Auditor of the Company M/s. K A Sanghavi & Co LLP, Chartered Accountants, having their office at 1001-1002- (Statutory Auditor) 1003, Rajhans Bonista, Ram Chowk, Ghod-Dod Road, Surat-395007. The Board of Directors of K.P. Energy Limited, including all duly constituted Board of Directors / Board Committees thereof. Unless specified otherwise, this would imply to the provisions of the Companies Act, 2013 (to the extent notified) and /or Provisions of Companies Act, 1956 w.r.t. the Companies Act sections which have not yet been replaced by the Companies Act, 2013 through any official notification. Companies Act, 1956 The Companies Act, 1956, as amended from time to time The Companies Act, 2013 notified in the official gazette on August 30, 2013 and Companies Act, 2013 applicable to the extent notified by MCA till date. Depositories Act The Depositories Act, 1996, as amended from time to time Director(s) Director(s) of K.P. Energy Limited, unless otherwise specified Equity Shares of our Company of Face Value of K 10 each unless otherwise specified Equity Shares in the context thereof All companies or ventures which would be termed as Group Companies as per the definition given in Schedule VIII of SEBI ICDR Regulations, 2009. For details of Group Group Companies Companies of the Company, please see the chapter titled “Our Promoter, Promoter Group and Group Companies” beginning on page no. 106 of this Information Memorandum HUF Hindu Undivided Family IFRS International Financial Reporting Standards Indian GAAP Generally Accepted Accounting Principles in India MOA / Memorandum / Memorandum of Memorandum of Association of K.P. Energy Limited Association Non Residents A person resident outside India, as defined under FEMA. A person resident outside India, as defined under FEMA and who is a citizen of NRIs / Non Resident India or a Person of Indian Origin under Foreign Exchange Management (Transfer or Indians Issue of Security by a Person Resident Outside India) Regulations, 2000. Any individual, sole proprietorship, unincorporated association, unincorporated organization,
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